The special treatment for Hong Kong | 01 June 2020

01 June 2020, USD/JPY

The special treatment for Hong Kong

USDJPY trading plan:

U.S. President Donald Trump said he was directing his administration to begin the process of eliminating special treatment for Hong Kong in response to China plans to impose new security legislation in the territory. Trump made the announcement at a White House news conference, saying China had broken its word over Hong Kong's autonomy. He said its move against Hong Kong was a tragedy for the people of Hong Kong, China and the world. This is a bad signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Sell 107.53 and take profit 107.15.

David Johnson
Analyst of «FreshForex» company
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